Crude-oil futures traded in a narrow price range in Asian hours Monday with oversupply concerns still weighing on market sentiment. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $81.08 a barrel at 0448 GMT, up $0.07 in the Globex electronic session. December Brent crude on London’s ICE Futures exchange fell $0.13 to $86.00 a barrel. Nymex West Texas Intermediate, the U.S. oil benchmark, has been down for four consecutive weeks, and Brent crude has posted losses for five weeks in a row. Market participants continued to speculate about the level of oil production from members of the Organization of the Petroleum Exporting countries, especially Saudi Arabia. In addition to Saudi Arabia’s crude-oil exports, the market also needs to consider the oil producer’s exports of petroleum products which are ramping up quickly, analyst Miswin Mahesh at Barclays said. “Saudi […]